Local Market Update – May 2019

A Research Tool Provided by the Big Sky Country MLS

Bozeman City Limits

1NE, 1NW, 1SM, 1SK

Single Family May Year to Date

Key Metrics 2018 2019 % Change Thru 5-2018 Thru 5-2019 % Change
New Listings 79 85 + 7.6% 300 305 + 1.7%
Pending Sales 54 75 + 38.9% 258 281 + 8.9%
Closed Sales 63 67 + 6.3% 227 211 - 7.0%
Days on Market Until Sale 35 65 + 85.7% 53 78 + 47.2%
Median Sales Price* $395,000 $430,000 + 8.9% $417,500 $435,000 + 4.2%
Average Sales Price* $424,020 $502,838 + 18.6% $451,380 $500,295 + 10.8%
Percent of List Price Received* 100.0% 99.1% - 0.9% 99.5% 99.2% - 0.3%
Inventory of Homes for Sale 132 98 - 25.8% –– –– ––
Months Supply of Inventory 2.8 2.0 - 28.6% –– –– ––

Condo/Townhouse May Year to Date

Key Metrics 2018 2019 % Change Thru 5-2018 Thru 5-2019 % Change
New Listings 46 58 + 26.1% 202 221 + 9.4%
Pending Sales 44 49 + 11.4% 202 192 - 5.0%
Closed Sales 42 43 + 2.4% 160 153 - 4.4%
Days on Market Until Sale 50 37 - 26.0% 65 43 - 33.8%
Median Sales Price* $302,500 $319,000 + 5.5% $299,785 $322,400 + 7.5%
Average Sales Price* $337,960 $359,439 + 6.4% $350,990 $346,292 - 1.3%
Percent of List Price Received* 99.4% 99.6% + 0.2% 99.6% 98.9% - 0.7%
Inventory of Homes for Sale 81 93 + 14.8% –– –– ––
Months Supply of Inventory 2.3 2.6 + 13.0% –– –– ––
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.

Median Sales Price - Single Family Median Sales Price - Condo

Rolling 12-Month Calculation Gallatin County Rolling 12-Month Calculation Gallatin County
Bozeman City Limits Bozeman City Limits
$450,000 $350,000

$400,000
$300,000

$350,000
$250,000

$300,000

$200,000
$250,000

$150,000
$200,000

$150,000 $100,000
1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017 1-2019 1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017 1-2019

A rolling 12-month calculation represents the current month and the 11 months prior in a single data point. If no activity occurred during a month, the line extends to the next available data point.

Current as of June 10, 2019. All data from Big Sky Country Multiple Listing Service®. Report © 2019 ShowingTime.